tag:blogger.com,1999:blog-7294165939647321702.post4749696376279093875..comments2024-03-11T10:31:06.107-04:00Comments on <center><a href="http://www.barelkarsan.com">Barel Karsan - Value Investing</a></center>: magicJack's Bag of TricksSaj Karsanhttp://www.blogger.com/profile/04493152766022812984noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7294165939647321702.post-54026738068771510652014-12-14T16:25:02.082-05:002014-12-14T16:25:02.082-05:00Now ev/ebitda is 2-3x...Now ev/ebitda is 2-3x...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-76704742895577923262014-08-15T16:14:07.758-04:002014-08-15T16:14:07.758-04:00Tilson's idea that MagicJack provides a valuab...Tilson's idea that MagicJack provides a valuable service is not true in the world of shared data plans with unlimited talk and text. Which is basically 100% phone plans being sold right now in the US.<br /><br />Even if I give them credit for having a flat H2, thats 29m of EBITDA on a $150m Enterprise Value? <br /><br />Doesn't seem that impressive, especially when adjusted EBITDA dropped 37% in H1 and 44% in H1.<br /><br />Also in Q2 they spent $28 per gross add in marketing, and I calculate a customer lifetime value of $18 based on their Q2 profit margins. Doesn't seem like marketing spend will be generating huge ecomoimic value.<br /><br /><br /><br /><br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-22017607173052696232014-08-13T08:28:23.100-04:002014-08-13T08:28:23.100-04:00http://cdn1.valuewalk.com/wp-content/uploads/2014/...http://cdn1.valuewalk.com/wp-content/uploads/2014/02/MagicJack-My-Next-Netflix-Whitney-Tilson-2-7-14.pdf<br /><br />Whitney Tilson is big on this name.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-27631996956583084272014-08-12T23:31:20.664-04:002014-08-12T23:31:20.664-04:00Thanks for a timely article.Thanks for a timely article.Anonymousnoreply@blogger.com